Systems and methods for providing tokenized transaction accounts

Patent metadata

Field	Value
Publication number	US-10248953-B2
Application number	US-201414510969-A
Country	US
Kind code	B2
Filing date	Oct 9, 2014
Priority date	Oct 9, 2013
Publication date	Apr 2, 2019
Grant date	Apr 2, 2019

Abstract

The disclosed embodiments include methods and systems for providing tokenized transaction accounts. In one embodiment, a computer-implemented method is provided that may include generating, by one or more processors, a first tokenized transaction account from a first transaction account associated with a first user. The method may also include providing the first tokenized transaction account to a client device associated with the first user for storage in the client device and use in transactions. The method may also include updating the first tokenized transaction account based on one or more conditions and providing the updated first tokenized transaction account to the client device for storage and use in a subsequent transaction.

First claim

What is claimed is:

1. A system, comprising:
a communications interface;
at least one processor coupled to the communications interface;
a memory having computer executable instructions stored thereon, that when executed by the at least one processor, causes the at least one processor to perform the steps of:
generating and storing a first update condition for determining whether to update a first tokenized transaction account at a client device;
providing the first tokenized transaction account to the client device, the first tokenized transaction account constituting a secure digital representation of a transaction account;
obtaining pending purchase transaction data involving a transaction account, the pending purchase transaction data including the first tokenized transaction account;
in response to obtaining the pending purchase transaction data, determining that the first update condition applies to the pending purchase transaction data;
determining that an update to the first tokenized transaction account is required based on the determination that the first update condition applies to the pending purchase transaction data;
based on the determination that the update to the first tokenized transaction account is required, obtaining first location data of prior geographic positions of the client device and second location data of geographic positions of terminal devices that processed prior purchase transactions involving the transaction account;
determining that a subset of the prior geographic positions of the client device matches the geographic positions of the terminal devices;
based on the determination that the subset matches the geographic positions of the terminal devices, delaying the required update of the first tokenized account for a predetermined time period;
detecting that the predetermined time period has expired; and
in response to the detection that the predetermined time period has expired, performing an update to the first tokenized transaction account and providing the updated first tokenized transaction account to the client device.

2. The system of claim 1 , wherein the first update condition establishes a limit on a value of a pending purchase transaction.

3. The system of claim 2 , wherein:
the pending purchase transaction data identifies products involved in the pending purchase transaction; and
the first update condition establishes: a first limit on a cost of a corresponding one of the products; or a second limit on an aggregate cost of the products.

4. The system of claim 3 , wherein the executable instructions, when executed by the at least one processor, causes the at least one processor to further perform the steps of:
associating the first tokenized transaction account with a first purchase functionality;
modifying the first purchase functionality in accordance with the first update condition;
establishing a second purchase functionality based on the modified first purchase functionality; and
associating the updated first tokenized transaction account with the second purchase functionality.

5. The system of claim 1 , wherein the pending purchase transaction data comprises the prior purchase transactions involving the transaction account; and the executable instructions, when executed by the at least one processor, causes the at least one processor to further perform the steps of:
associating the first tokenized transaction account with a first purchase functionality;
determining, based on the pending purchase transaction data, an average value of the prior purchase transactions or a frequency of the prior purchase transactions;
establishing a second purchase functionality in accordance with the average value or frequency; and
associating the updated first tokenized transaction account with the second purchase functionality.

6. The system of claim 1 , wherein the executable instructions, when executed by the at least one processor, causes the at least one processor to further perform the steps of:
identifying an instance of potential fraudulent activity involving the transaction account; and
generating the updated first tokenized transaction account in response to the identified instance of potential fraudulent activity.

7. The system of claim 1 , wherein the pending purchase transaction data identifies the prior purchase transactions involving the transaction account; and the executable instructions, when executed by the at least one processor, causes the at least one processor to further perform the step of:
delaying the update of the first tokenized transaction account for the predetermined time period.

8. The system of claim 1 , wherein the executable instructions, when executed by the at least one processor, causes the at least one processor to further perform the steps of:
refreshing the first tokenized transaction account.

9. The system of claim 1 , wherein the executable instructions, when executed by the at least one processor, causes the at least one processor to further perform the steps of:
based on the pending purchase transaction data, determining that a second update condition applies to the pending purchase transaction data;
generating second tokenized transaction account from account data elements of the transaction account in response to the determination that the first and second update conditions apply to the pending purchase transaction data; and
providing the second tokenized transaction account to the client device.

10. The system of claim 1 , wherein the transaction account comprises a plurality of transaction data elements and a size of the first tokenized transaction account is equivalent to a size of the account data elements.

11. The system of claim 1 , wherein the first update condition includes:
a user-specified condition;
a location-of-use condition that triggers the update of the first tokenized transaction account in response to a correspondence between a location of an
additional terminal device involved in the pending purchase transaction and a specified geographic location;
a pattern of locations-of-use conditions that triggers the update of the first tokenized transaction account in response to a correspondence between a location of one of the prior purchase transactions and the specified geographic location;
a product condition that triggers the update of the first tokenized transaction account based on an association between a specified product and the pending purchase transaction or one of the prior purchase transactions;
a product type condition that triggers the update of the first tokenized transaction account based on an association between a specified type of product and the pending purchase transaction or one of the prior purchase transactions;
a business entity condition that triggers the update of the first tokenized transaction account based on an association between a specified business entity and the pending purchase transaction or one of the prior purchase transactions;
a business entity type condition that triggers the update of the first tokenized transaction account based on an association between a specified type of business and the pending purchase transaction or one of the prior purchase transactions;
or a user profile condition that triggers the update of the first tokenized transaction account based on an association between a user of the device and a specified demographic characteristic.

12. The system of claim 1 , wherein the transaction account comprises a plurality of account data elements, and wherein the executable instructions, when executed by the at least one processor, causes the at least one processor to further per

Assignees

• Toronto Dominion Bank

Inventors

• Salama Hisham I
• Van Heerden Lauren
• Del Vecchio Orin
• Chan Paul Mon-Wah
• Barnett Jonathan K
• Danielak Jakub

Classifications

• G06Q20/3827

  Use of message hashing · CPC title

• G06Q20/12

  specially adapted for electronic shopping systems · CPC title

• G06Q20/38215

  Use of certificates or encrypted proofs of transaction rights · CPC title

• G06Q20/34

  using cards, e.g. integrated circuit [IC] cards or magnetic cards · CPC title

• G06Q20/20

  Point-of-sale [POS] network systems · CPC title